Considering the low buy volume compared to the massive sell happend on Friday and the short time period I highly doubt we can recover and go back to ATH without a proper recovery like we did in june-july period. However if we go back again this week to ATH and beyond 20K I guess a blow off with double top will be in play.
pfff... 4 days is a long time in crypto. Christmas is over, time for another bull run!
elshanti
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@supersheriffen, well the last 3 big drops recovery period were between 15-30 days.
UnknownUnicorn1831773
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@elshanti, Market has changed a LOT since those drops. I don't think you should rely too much on old charts
elshanti
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@supersheriffen, people's behavior, their fear and greed never changes whether you apply the same experiment to a a couple of thousands in 2011 or a million like in 2013 or tens of millions like now the results and cycle will be the same regardless the number of digits...
UnknownUnicorn1831773
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@elshanti, crypto market is still young. Bitcoin is finally being recognized and accepted by institutions and ordinary people. It's more than just a store of value, it has actual world wide use! more and more people like me use it everyday for payments. I am convinced that more adoption of its utility will change this "greed" cycle yo're talking about.
But either way it wont affect me too much.. 98% of my holdings is in alts.
Moum413
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@supersheriffen, these people just don’t get it
graham.edwards84
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I have made some similar comments too, and if a blow off top is in play what do you think we would top out at? Could be a double top but more likely a substantial move, no?
elshanti
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@graham.edwards84, people still cashing out and having money stuck in exchanges.. I highly suspect to continue beyond 28K with the ongoing exchange struggle and the liquidity. The trade would be on hold on most exchanges just like it happend on April 2013 for 3 days followed with massive crash..
graham.edwards84
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@elshanti, right right... interesting. I'm just looking at a side by side perspective BTCUSD and ETHUSD both on weekly charts, it's very very interesting too... I'll probably post up a chart in a bit.